Costa de Sol Number One for Spanish Property with 50 Percent of Sales to Overseas Buyers

22 Mar 2014

With the news that over 50% of sales for 2013 were to overseas property buyers in Costa del Sol it’s clear that Andalucía is still the number one destination for would be Spanish property buyers.

In Costa del Sol there were 9,000 sales of new houses in the province throughout the year, of which 4,520 involved foreign buyers. This is completely unique and new and not event in the best year in history for house sales, which was 2007, when 45,000 houses were sold and 16,800 of them were purchased by foreigners did we have 50% being bought by overseas property buyers said Nick Stuart Managing Director the leading international Spanish property company Spanish Hot Properties.

In Costa del Sol UK buyers continue to lead the way in residential tourism, the Swedish, Belgians and Norwegians have picked up the pace and overtaken the Russians, French and Germans. However At a national level, the number of foreign buyers has also increased, especially amongst the French, Belgians and Scandinavians. Most interestingly the French buy the most homes in Costa Blanca and Costa Brava.

Of the new houses purchased in Costa del Sol last year, 1,200 were bought by UK citizens, double the number of their closest runner-up, the Swedish, and followed by 550 purchases by Belgians and 450 by Russians but as you can see we now have a much more diverse market said Nick.

The National Institute of Statistics reports that of the 9.5 million tourists who visited the Costa del Sol last year, more than 4.9 million stayed in houses, either its own, rented or with friends. This statistic is huge and has led to a new law for all holiday rental homes to be licensed as the Spanish Government and the Junta de Andalucía see this as an income raising opportunity too good to turn down.

Nick believes that this percentage will also be on the increase as buyers from outside the EU begin to take advantage of the Golden Visa for all property sales above 500,000€.

If you would like assistance in taking advantage of the opportunities that still exist in Costa del Sol or advice about the Golden Visa contact Spanish Hot Properties via Email or telephone.

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